Menu

EUR/USD, strong trend line is holding on the way up

As you know, my main tool for the analysis and trading are trend lines as they are are playing very important role in the future moves. You can see on this chart that the trend line from December 2015 (1.0500) is holding the pair on the way up for 3rd day in a row at 1.1320/40 level. That’s why you should watch if the buyers can brake this level, after wich the pair could become more bullish and move toward 1.1460. In the case of braking this resistance, 1.1320/40 could become a solid support in the coming days. Let’s see are buyers want to brake this for real or they just want to take some stops above the trendline?